Perth Mint Gold Bullion Sales Rally in August to Ten-Month High

CoinNews photo of a 2018 Australian Kookaburra Year of the Dog Privy Mark 1oz Silver Bullion Coin.

Overall demand for Australian bullion products picked up in August for a second month in a row, according Perth Mint figures published Sept. 2, 2018. Even better for the Mint, its gold sales were the strongest since October and its silver sales the highest since May.

The monthly gains happened against a backdrop of plunging precious metals with LBMA prices in August dropping 1.5% for gold and 5% for silver.

Bullion Sales in August 2018

Sales of Perth Mint gold coins and gold bars totaled to 38,904 ounces last month, scoring gains of 30% from July and 68.2% from August 2017.

Despite the surge, their year-to-date sales at 209,163 ounces are 6.4% lower than the 223,467 ounces sold through the first eight months of last year.

The Perth Mint sold 520,245 ounces in silver coins and silver bars in August, posting increases of 6.9% from July and 32.7% from August 2017. The turnaround is sharp contrast from June when the Mint’s silver sales reached only 229,280 ounces — the weakest level since CoinNews started tracking Perth Mint monthly data in February 2013.

Perth Mint silver sales for the year so far at 5,288,357 are 18.9% lower than the 6,520,261 ounces delivered through the same period last year.

Perth Mint Gold and Silver Sales by Month

Below is a monthly summary of Perth Mint bullion sales from August 2017 to August 2018. The figures show monthly ounces of gold and silver shipped as minted products by The Perth Mint to wholesale and retail customers worldwide. It excludes sales of cast bars and other Group activities including sales of allocated/unallocated precious metal for storage by the Depository.